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Tuesday, June 2, 2015

ODNR Releases 1st Quarter 2015 Utica Shale Production Figures

COLUMBUS, OH – During the first quarter of 2015, Ohio’s horizontal shale wells produced 4,401,687 barrels of oil and 183,585,256 Mcf (183 billion cubic feet) of natural gas, according to figures released today by the Ohio Department of Natural Resources (ODNR). Oil increased by more than 842,000 barrels and gas by more than 18 billion cubic feet compared to the fourth quarter of 2014. By comparison, 418 horizontal shale wells in the first quarter of 2014 produced 1,951,641 barrels of oil and 67,329,316 Mcf (67 billion cubic feet) of natural gas.

Comparatively, while the fourth quarter of 2014 saw a 25 percent increase in oil production over the third quarter, the increase was 545,000 barrels, exactly 300,000 barrels less than the first quarter of 2015 production.

The new report lists 926 wells, 877 of which reported production, resulting in a 12 percent increase in wells for the first quarter. Forty-nine wells reported no production as they are waiting on pipeline infrastructure. Of the 877 wells reporting production results:

- The average amount of oil produced was 5,019 barrels.
- The average amount of gas produced was 209,333 Mcf.
- The average number of days in production was 80.